Friday • January 5
ASGE/AEA/IAFFE
E- commerce and the Agrifood Supply Chain (O1) Presiding: THOMAS REARDON, Michigan State University
YIWU ZENG, Zhejiang University, HONGDONG GUO, Zhejiang University, and SONGQING JIN, Michigan State University—
Formation and Evolution of Rural E-commerce Villages in China:
Theory and Empirical Evidences
Friday • January 5
TIMOTHY J. RICHARDS, Arizona State University, and STEPHEN F. HAMILTON, California Polytechnic State University-San Luis Obispo—Food Waste and the Sharing Economy
LIANG LU, University of California-Berkeley, and THOMAS REARDON, Michigan State University—e-Marketing and Supply Chains
JILL MCCLUSKEY, Washington State University, and JASON WINFREE, University of Idaho—Collective Reputation in Online Platforms and Private Quality Standards
10:15 am Marriott Philadelphia Downtown—Meeting Room 415 ACE
Health of Vulnerable Groups (I1)
Presiding: SARAH HAMERSMA, Syracuse University
LINDSEY WOODWORTH, University of South Carolina—Just a Minute: The Effect of Emergency Department Wait Time on the Cost of Care
SARAH HAMERSMA, Syracuse University, and JINQI YE, Huazhong University of Science and Technology—The Effect of the State Children’s Health Insurance Program on the Mental and Behavioral Health of Children
SCOTT CUNNINGHAM, Baylor University, GREGORY DEANGELO, West Virginia University, and JOHN TRIPP, Baylor University—The Effect of Online Erotic Services Advertising on Prostitution Markets, Pricing, and Murder
Discussants: DANIEL WILMOTH, U.S. Small Business Administration CATHERINE MACLEAN, Temple University
MARK HOEKSTRA, Texas A&M University
10:15 FRI
Friday • January 5
108
10:15 am Pennsylvania Convention Center—201-B ACES/AEA
Panel: The World Economy One Year After Trump’s Election (F0) Presiding: GERARD ROLAND, University of California-Berkeley
RICHARD BALDWIN, Graduate Institute of International and Development Studies
MAURICE OBSTFELD, International Monetary Fund HELENE REY, London Business School
SHANG-JIN WEI, Columbia University
SERGEI GURIEV, European Bank for Reconstruction and Development
10:15 am Marriott Philadelphia Downtown—Liberty Ballroom Salon B
AEA
Annuity Markets and Retirement Income Security (H8)
Presiding: JAMES POTERBA, Massachusetts Institute of Technology and NBER
OLIVIA S. MITCHELL, University of Pennsylvania, VANYA HORNEFF, Goethe University, and RAIMOND MAURER, Goethe University—Putting the Pension Back in 401(k) Plans: Optimal vs.
Default Longevity Income Annuities
FRANK CALIENDO, Utah State University, ASPEN GORRY, Utah State University, and SITA SLAVOV, George Mason University—
Survival Ambiguity and Welfare
JEFFREY BROWN, University of Illinois, JAMES POTERBA, Massachusetts Institute of Technology and NBER, and DAVID RICHARDSON, TIAA—New Evidence on the Choice of Retirement Income Strategies: Annuities vs. Other Options
GASTON ILLANES, Northwestern University, and MANISHA PADI, Massachusetts Institute of Technology—Competition, Asymmetric Information, and the Annuity Puzzle: Evidence from a Government-run Exchange in Chile
Friday • January 5
Discussants: DAVID RICHARDSON, TIAA CASEY ROTHSCHILD, Wellesley College
MELINDA MORRILL, North Carolina State University NATHALIE COX, University of California-Berkeley
10:15 am Pennsylvania Convention Center—105-A AEA
Automation (J2)
Presiding: PASCUAL RESTREPO, Boston University
VAHAGN JERBASHIAN, University of Barcelona—Automation and Job Polarization: On the Decline of Middling Occupations in Europe ALEXANDER GUSCHANSKI, University of Greenwich, and OZLEM ONARAN, University of Greenwich—Determinants of the Wage Share:
Evidence From Firm-level Data
PIOTR LEWANDOWSKI, Institute for Structural Research (IBS), ROMA KEISTER, Institute for Structural Research (IBS), WOJCIECH HARDY, Institute for Structural Research (IBS), and SZYMON GÓRKA, Institute for Structural Research (IBS)—Routine and Ageing?
The Intergenerational Divide In The Deroutinisation Of Jobs In Europe LUKAS PUETTMANN, University of Bonn, and KATJA MANN, University of Bonn—The Benign Effects of Automation: New Evidence From Patent Texts
ENGHIN ATALAY, University of Wisconsin-Madison, PHAI PHONGTHIENGTHAM, University of Wisconsin-Madison, SEBASTIAN SOTELO, University of Michigan-Ann Arbor, and DANIEL TANNENBAUM, University of Nebraska-Lincoln—The Evolving United States Occupational Structure: A Textual Analysis
10:15 am Pennsylvania Convention Center—204-C AEA
Conventional and Unconventional Fiscal Multipliers (E6) Presiding: VALERIE RAMEY, University of California-San Diego
10:15 FRI
Friday • January 5
110
WATARU MIYAMOTO, Bank of Canada, THUY LAN NGUYEN, Santa Clara University, and DMITRIY SERGEYEV, Bocconi University and IGIER—Fiscal Multipliers in the Zero Lower Bound: Evidence From Japan
FRANCESCO D’ACUNTO, University of Maryland, DANIEL HOANG, Karlsruhe Institute of Technology, and MICHAEL WEBER, University of Chicago—Unconventional Fiscal Policy
ALBERTO ALESINA, Harvard University, and FRANCESCO GIAVAZZI, Bocconi University—Growth Friendly Fiscal Consolidations Discussants: KAREL MERTENS, Cornell University
OLIVIER COIBION, University of Texas-Austin ERIC LEEPER, Indiana University
10:15 am Pennsylvania Convention Center—109-A AEA
Economics of Immigration (J1) Presiding: SUKANYA BASU, Vassar College
LISA K. SIMON, Ifo Institute, PHILIPP LERGETPORER, Ifo Institute, and MARC PIOPIUNIK, Ifo Institute—Information, Perceived Education Level, and Attitudes Toward Refugees: Evidence From a Randomized Survey Experiment
DORUK CENGIZ, University of Massachusetts-Amherst, and HASAN TEKGUC, Kadir Has University—Is It Merely A Labor Supply Shock?
Impacts of Syrian Migrants on Local Economies in Turkey
TAREK A. HASSAN, Boston University, NBER, and CEPR, THOMAS CHANEY, Toulouse School of Economics and CEPR, and KONRAD BURCHARDI, Institute for International Economic Studies, Stockholm University, BREAD, and CEPR—Migrants, Ancestors, and Foreign Investments
SHAN LI, Central University of Finance and Economics, and RAM FISHMAN, Tel Aviv University—Rainfall Fluctuation and Selection Patterns of Mexico-United States Migration
Friday • January 5
10:15 am Marriott Philadelphia Downtown—Grand Ballroom Salon L
AEA
Experiments on Liquidity, Loans, and Time Preferences (D0) Presiding: KATHERINE BALDIGA COFFMAN, Harvard Business School
DAVID DANZ, University of Pittsburgh, DAVID HUFFMAN, University of Pittsburgh, RACHEL LANDSMAN, University of Pittsburgh, LISE VESTERLUND, University of Pittsburgh, STEPHANIE W. WANG, University of Pittsburgh, and ALISTAIR WILSON, University of Pittsburgh—Giving Forward: A Potential Supplement to Student Loans JAMES ANDREONI, University of California-San Diego, and MARTA SERRA-GARCIA, University of California-San Diego—Time-inconsistent Charitable Giving
JUDD BENJAMIN KESSLER, University of Pennsylvania, LUCAS COFFMAN, Harvard University, JOHN CONLON, Federal Reserve Bank of New York, and CLAYTON FEATHERSTONE, University of Pennsylvania—Liquidity Constraints and Job Choice
SEUNG-KEUN MARTINEZ, University of California-San Diego, STEPHAN MEIER, Columbia University, and CHARLES SPRENGER, University of California-San Diego—Procrastination in the Field:
Evidence From Tax Returns
Discussants: STEPHANIE W. WANG, University of Pittsburgh JEFFREY NAECKER, Wesleyan University
CHARLES SPRENGER, University of California-San Diego MARTA SERRA-GARCIA, University of California-San Diego
10:15 am Marriott Philadelphia Downtown—Grand Ballroom Salon F
AEA
Panel: Financial Regulation: Looking Back, Looking Forward (G2)
Presiding: ANDREW METRICK, Yale University DANIEL TARULLO
DOUGLAS DIAMOND, University of Chicago PETER SANDS, Harvard University
10:15 FRI
Friday • January 5
112
10:15 am Pennsylvania Convention Center—111-A AEA
Fuel Efficiency (Q5)
Presiding: CHRISTOPHER R. KNITTEL, Massachusetts Institute of Technology
JAMES ARCHSMITH, University of California-Davis, KENNETH GILLINGHAM, Yale University, CHRISTOPHER R. KNITTEL, Massachusetts Institute of Technology, and DAVID RAPSON, University of California-Davis—Household Diversification: The Vehicle Portfolio Effect
SHINSUKE TANAKA, Tufts University—Mind the Gap! Tax Incentives and Incentives for Manipulating Fuel Efficiency in the Automobile Industry
BENJAMIN P. LEARD, Resources for the Future, JOSHUA LINN, Resources for the Future, and YICHEN CHRISTY ZHOU, Resources for the Future and Clemson University—Does an Energy Efficiency Gap Exist in the Light-duty Vehicle Market? Evidence From Fuel-saving Technology Adoption
JAMES SALLEE, University of California-Berkeley—Pigou Creates Losers: On the Impossibility of Pareto Improvements From Pigouvian Taxes
Discussants: MARK JACOBSEN, University of California-San Diego JING LI, Massachusetts Institute of Technology
HENDRIK WOLFF, Simon Fraser University SHANJUN LI, Cornell University
10:15 am Marriott Philadelphia Downtown—Grand Ballroom Salon C
AEA
Gender Issues in Economics (A1)
Presiding: JUSTIN WOLFERS, University of Michigan
ERIN HENGEL, University of Liverpool—Publishing While Female:
Gender Differences in Peer Review Scrutiny
ALICE H. WU, University of California-Berkeley—Gender Stereotyping in Academia: Evidence From Economics Job Market Rumors Forum
Friday • January 5
BETSEY STEVENSON, University of Michigan—Gender and Racial Diversity in Economics Textbooks
TATYANA AVILOVA, Columbia University, and CLAUDIA GOLDIN, Harvard University—What Can UWE Do for Economics?
10:15 am Pennsylvania Convention Center—107-A AEA
Global Production Networks (F1)
Presiding: KALINA MANOVA, University of Oxford
POL ANTRAS, Harvard University, and ALONSO DE GORTARI, Harvard University—On the Geography of Global Value Chains
ANDREW BERNARD, Dartmouth College, EMMANUEL DHYNE, National Bank of Belgium, GLENN MAGERMAN, Free University of Brussels, KALINA MANOVA, University of Oxford, and ANDREAS MOXNES, University of Oslo—The Origins of Firm Heterogeneity: A Production Network Approach
BANU DEMIR, Bilkent University, BEATA JAVORCIK, University of Oxford, TOMASZ MICHALSKI, HEC Paris, and EVREN ORS, HEC Paris—An Empirical Investigation of Geographic and Production Networks
Discussants: THIBAULT FALLY, University of California-Berkeley FELIX TINTELNOT, University of Chicago
ROBERT JOHNSON, Dartmouth College
10:15 am Pennsylvania Convention Center—104-B AEA
Increasing Capital Shares: Causes and Consequences (E2) Presiding: JESUS FERNANDEZ-VILLAVERDE, University of Pennsylvania
SIMCHA BARKAI, University of Chicago—Declining Labor and Capital Shares
SEKYU CHOI, University of Bristol, and JOSE-VICTOR RIOS-RULL, University of Pennsylvania—Labor Share and Technology Dynamics
10:15 FRI
Friday • January 5
114
ISABEL CAIRO, Federal Reserve Board, and JAE SIM, Federal Reserve Board—The Demise of the Treaty of Detroit and (Dis)inflation Dynamics
THORSTEN DRAUTZBURG, Federal Reserve Bank of Philadelphia, JESUS FERNANDEZ-VILLAVERDE, University of Pennsylvania, and PABLO GUERRON, Boston College—Political Redistribution Risk and Aggregate Fluctuations
10:15 am Marriott Philadelphia Downtown—Independence Ballroom I
AEA
Panel: International Trade Exposure and Election Outcomes (F1) Presiding: KENNETH F. SCHEVE, Stanford University
DAVID AUTOR, Massachusetts Institute of Technology PETER SCHOTT, Yale University
J. BRADFORD JENSEN, Georgetown University
10:15 am Marriott Philadelphia Downtown—Grand Ballroom Salon B
AEA
Monetary Policy, Financial Conditions and the Economy (E5) Presiding: ANNETTE VISSING-JORGENSEN, University of
California-Berkeley
FRANCESCO BIANCHI, Duke University, MARTIN LETTAU, University of California-Berkeley, and SYDNEY LUDVIGSON, New York University—Monetary Policy and Asset Valuation
ANNA CIESLAK, Duke University, and ANNETTE VISSING-JORGENSEN, University of California-Berkeley—The Economics of the Fed Put
MARKUS K. BRUNNERMEIER, Princeton University, DARIUS PALIA, Rutgers University, KARTHIK A. SASTRY, Massachusetts Institute of Technology, and CHRISTOPHER A. SIMS, Princeton University—Feedbacks: Financial Market and Economic Activity
Friday • January 5
Discussants: IAN DEW-BECKER, Northwestern University NARAYANA KOCHERLAKOTA, University of Rochester YURIY GORODNICHENKO, University of California-Berkeley
10:15 am Marriott Philadelphia Downtown—Meeting Room 306 AEA
New Methods for Measuring Poverty and Welfare (O1) Presiding: BRIAN DILLON, University of Washington
BRIAN DILLON, University of Washington, and PAUL CHRISTIAN, World Bank—Measuring Seasonal Poverty
JOSHUA BLUMENSTOCK, University of California-Berkeley, MICHAEL CALLEN, University of California-San Diego, TAREK GHANI, Washington University-St. Louis, NIALL KELEHER, University of California-Berkeley, and JACOB SHAPIRO, Princeton University—Measuring Poverty and Vulnerability in Real-time
MARSHALL BURKE, Stanford University—Measuring Poverty With Satellites
JENNIFER BURNEY, University of California-San Diego, and GORDON H. HANSON, University of California-San Diego—
Detecting Land-use Change and On-farm Investments at the Plot Scale Using Remote Sensing
Discussants: BERK OZLER, World Bank
PETER LANJOUW, Free University of Amsterdam KELSEY JACK, Tufts University
10:15 am Marriott Philadelphia Downtown—Liberty Ballroom Salon A
AEA
Optimal Policies in a Behavioral World (E0) Presiding: CHRISTIAN MOSER, Columbia University
EMMANUEL FARHI, Harvard University, and XAVIER GABAIX, Harvard University—Optimal Taxation with Behavioral Agents
CHRISTIAN MOSER, Columbia University, and PEDRO OLEA, Wealthfront—Optimal Paternalistic Savings Policies
10:15 FRI
Friday • January 5
116
BENJAMIN B. LOCKWOOD, University of Pennsylvania—Optimal Income Taxation with Present Bias
PEI CHENG YU, University of New South Wales—Optimal Retirement Policies with Time-inconsistent Agents
JOHN BESHEARS, Harvard Business School, JAMES CHOI, Yale University, CHRISTOPHER HARRIS, University of Cambridge, DAVID LAIBSON, Harvard University, and BRIGITTE MADRIAN, Harvard University—Optimal Illiquidity
Discussants: JOSHUA SCHWARTZSTEIN, Harvard Business School STEFANIE STANTCHEVA, Harvard University
SIMONE GALPERTI, University of California-San Diego ROOZBEH HOSSEINI, University of Georgia
DMITRY TAUBINSKY, University of California-Berkeley
10:15 am Marriott Philadelphia Downtown—Meeting Room 307 AEA
Panel: Pointers and Pitfalls for Human Subject Research on Instruction in Economics and Other Social Sciences (A1) Presiding: OSKAR HARMON, University of Connecticut
JOHN A. LIST, University of Chicago
REBECCA MAYNARD, University of Pennsylvania CINDY SHINDLEDECKER, University of Michigan GEORG SCHAUR, University of Tennessee
10:15 am Marriott Philadelphia Downtown—Meeting Room 405 AEA
Pricing Strategies (D4)
Presiding: MARC REMER, Swarthmore College
RENATO GOMES, Toulouse School of Economics, and JEAN TIROLE, Toulouse School of Economics—Drip Prices and Missed Sales
PATRICK J. KEHOE, Stanford University, BRADLEY LARSEN, Stanford University, and ELENA PASTORINO, University of Minnesota—Dynamic Competition in the Era of Big Data
Friday • January 5
WOUTER VERGOTE, CEREC, USL-B and CORE, University Catholic Louvain, PAUL BELLEFLAMME, Aix-Marseille University, and WYNNE LAM, University of Liege—Price Discrimination and Dispersion under Asymmetric Profiling of Consumers
SACHA KAPOOR, Erasmus University Rotterdam, BRANKO BOSKOVIC, University of Alberta, and BARRY SCHOLNICK, University of Alberta—The Cyclicality of Durable Goods Prices and Their Add-ons: 11 Years of Evidence From a Nationwide Retailer
10:15 am Pennsylvania Convention Center—104-A AEA
Sectoral Wage Gaps and the Returns to Migration (O4) Presiding: EDWARD MIGUEL, University of California-Berkeley
DAVID LAGAKOS, University of California-San Diego, A. MUSHFIQ MOBARAK, Yale University, and MICHAEL E. WAUGH, New York University—The Welfare Effects of Encouraging Rural-urban Migration EMI NAKAMURA, Columbia University, JÓSEF SIGURDSSON, Stockholm University, and JON STEINSSON, Columbia University—
The Gift of Moving: Intergenerational Consequences of a Mobility Shock
JOAN HICKS, University of California-Berkeley, MARIEKE KLEEMANS, University of Illinois-Urbana-Champaign, NICHOLAS Y. LI, University of California-Berkeley, and EDWARD MIGUEL, University of California-Berkeley—Reevaluating Agricultural Productivity Gaps With Longitudinal Microdata
JORGE ALVAREZ, International Monetary Fund—The Agricultural Wage Gap: Evidence From Brazilian Micro-data
Discussants: TARYN DINKELMAN, Dartmouth College JEREMY MAGRUDER, University of California-Berkeley SAMUEL BAZZI, Boston University
KATHLEEN BEEGLE, World Bank
10:15 FRI
Friday • January 5
118
10:15 am Marriott Philadelphia Downtown—Grand Ballroom Salon I
AEA
The Dynamics of Income: Celebrating 50 years of the PSID (J3) Presiding: DAVID JOHNSON, University of Michigan
PETER GOTTSCHALK, Boston College, ROBERT A. MOFFITT, Johns Hopkins University, and SISI ZHANG, Jinan University—
Economic Volatility and the PSID: A Record of Seminal Research MANUEL ARELLANO, CEMFI, Madrid, RICHARD BLUNDELL, University College London, and STEPHANE BONHOMME, University of Chicago—Nonlinear Persistence and Partial Insurance
MICHAEL CARR, University of Massachusetts Boston, and EMILY WIEMERS, University of Massachusetts Boston—Recent Trends in the Variability of Men’s Earnings: Evidence From Administrative and Survey Data
DMYTRO HSYSHKO, University of Alberta, and IOURII MANOVSKII, University of Pennsylvania—How Much Consumption Insurance in the United States?
Discussants: KAREN DYNAN, Harvard University JAMES ZILIAK, University of Kentucky
10:15 am Marriott Philadelphia Downtown—Grand Ballroom Salon E
AEA
TrumpEconomics: a First Year Evaluation (E6) Presiding: DOMINICK SALVATORE, Fordham University
OLIVIER BLANCHARD, Peterson Institute for International Economics—The Effects of Policy Uncertainty
MARTIN FELDSTEIN, Harvard University—The Impact of the Trump Tax Reforms
EDMUND PHELPS, Columbia University—What’s Lacking in Trumpean Economic Policy
JOSEPH E. STIGLITZ, Columbia University—Trump and Globalization
Friday • January 5
LAWRENCE H. SUMMERS, Harvard University—Continuing Relevance of Secular Stagnation
Discussant: DOMINICK SALVATORE, Fordham University
10:15 am Pennsylvania Convention Center—204-B AERE
Local Implications of Shale Gas (Q4)
Presiding: GREGORY B. UPTON, Louisiana State University
JASON BROWN, Federal Reserve Bank of Kansas City—Response of Consumer Debt to Income Shocks: The Case of Energy Booms and Busts
RYAN DECKER, Federal Reserve Board, MEAGAN MCCOLLUM, City University of New York-Baruch College, and GREGORY B.
UPTON, Louisiana State University—Local Economic Shocks and Entrepreneurship: New Business Formation During the Shale Oil and Gas Boom
ASHLEY VISSING, Duke University, YANYOU CHEN, Duke University, JAMES W. ROBERTS, Duke University, and CHRISTOPHER TIMMINS, Duke University—Collateral Damage:
The Impact of Shale Gas on Mortgage Lending.
JEREMY WEBER, University of Pittsburgh, and JOSEPH MARCHAND, University of Alberta—The Local Effects of the Texas Shale Boom on Schools, Students, and Teachers
Discussants: MARTIN STUERMER, Federal Reserve Bank of Dallas NIDA CAKIR MELEK, Federal Reserve Bank of Kansas City ANIL KUMAR, Federal Reserve Bank of Dallas
SOREN ANDERSON, Michigan State University
10:15 am Loews Philadelphia—Regency AB AFA
AFA Panel: FinTech—How Will it Transform Financial Markets and Services? (G0)
Presiding: WEI JIANG, Columbia University SUSAN ATHEY, Stanford University
10:15 FRI
Friday • January 5
120 CAMPBELL HARVEY, Duke University MAUREEN O’HARA, Cornell University DAVID YERMACK, New York University
10:15 am Loews Philadelphia—Commonwealth Hall A1 AFA
Compensation and Agency (G3) Presiding: FELIPE VARAS, Duke University
PIERRE CHAIGNEAU, Queen’s University, ALEX EDMANS, London Business School, and DANIEL GOTTLIEB, Washington University-St.
Louis—The Value of Performance Signals Under Contracting Constraints LIANG CHEN, Wuhan University—Compensation, Moral Hazard, and Talent Misallocation in the Market for CEOs
VLADIMIR VLADIMIROV, University of Amsterdam—CEO Fit, Contract Horizon, and Turnover
Discussants: MING YANG, Duke University
ROBERT MILLER, Carnegie Mellon University JOHN ZHU, University of Pennsylvania
10:15 am Loews Philadelphia—Commonwealth Hall A2 AFA
Credit Default Swaps (G1)
Presiding: GREG DUFFEE, Johns Hopkins University
PATRICK AUGUSTIN, McGill University, VALERI SOKOLOVSKI, Stockholm School of Economics, MARTI G. SUBRAHMANYAM, New York University, and DAVIDE TOMIO, Copenhagen Business School—Why Do Investors Buy Sovereign Default Insurance?
PIERRE COLLIN-DUFRESNE, Swiss Federal Institute of Lausanne, BENJAMIN JUNGE, Swiss Federal Institute of Technology-Lausanne, and ANDERS TROLLE, Swiss Federal Institute of Technology-Lausanne—Market Structure and Transaction Costs of Index CDSs
Friday • January 5
YALIN GUNDUZ, Deutsche Bundesbank—Mitigating Counterparty Risk
GEORGE BATTA, Claremont McKenna College, and FAN YU, Claremont McKenna College—Credit Derivatives and Firm Investment Discussants: TOBIAS BERG, Frankfurt School of Finance & Management
LAWRENCE GLOSTEN, Columbia University EMIL SIRIWARDANE, Harvard University
BASTIAN VON BESCHWITZ, Federal Reserve Board
10:15 am Loews Philadelphia—Commonwealth Hall C AFA
Financing Frictions and Their Impact on Liquidity (G2) Presiding: STACEY SCHREFT, U.S. Office of Financial Research
ZONGBO HUANG, Princeton University—Managing Bank Run Risk:
The Perils of Discretion
CHRISTIAN LUNDBLAD, University of North Carolina, and ZHONGYAN ZHU, Monash University—Liquidity Provision and the Transmission of Systemic Risk
GABRIEL CHODOROW-REICH, Harvard University, and ANTONIO FALATO, Federal Reserve Board—The Loan Covenant Channel: How Bank Health Transmits to the Real Economy
Discussants: PHIL DYBVIG, Washington University-St. Louis VICTORIA IVASHINA, Harvard Business School SUDHEER CHAVA, Georgia Institute of Technology
10:15 am Loews Philadelphia—Commonwealth Hall B AFA
Frontiers of Corporate Governance (G3) Presiding: KELLY SHUE, University of Chicago
JAMES O’DONOVAN, INSEAD, HANNES WAGNER, Bocconi University, and STEFAN ZEUME, University of Michigan—The Value of Offshore Secrets: Evidence From the Panama Papers
10:15 FRI
Friday • January 5
122
CEM DEMIROGLU, Koc University, OGUZHAN OZBAS, University of Southern California, RUI C. SILVA, London Business School, and MEHMET ULU, Turkish Central Bank—The Economic Impact of Religion: Evidence From Ramadan Loans
LIN WILLIAM CONG, University of Chicago, SABRINA HOWELL, New York University, and RAN ZHANG, Peking University—How Public Markets Force Firm Standardization: Evidence From Chinese IPOs
MARTIJN CREMERS, University of Notre Dame, and SIMONE SEPE, Toulouse School of Economics—Board Declassification Activism: The Financial Value of the Shareholder Rights Project
Discussants: MARA FACCIO, Purdue University PAOLA SAPIENZA, Northwestern University MANJU PURI, Duke University
LUIGI ZINGALES, University of Chicago
10:15 am Loews Philadelphia—Regency Ballroom C2 AFA
Household Finance (G2)
Presiding: GREGOR MATVOS, University of Chicago
ANDRES LIBERMAN, New York University, DANIEL PARAVISINI, London School of Economics, and VIKRAM PATHANIA, University of Sussex—High-cost Debt and Borrower Reputation: Evidence From the United Kingdom
GENE AMROMIN, Federal Reserve Bank of Chicago, JANICE EBERLY, Northwestern University, and JOHN MONDRAGON, Northwestern University —The Housing Crisis and the Rise in Student Loans
PAT AKEY, University of Toronto, RAWLEY HEIMER, Federal Reserve Bank of Cleveland, and STEFAN LEWELLEN, London Business School—Politicizing Consumer Credit
BRONSON ARGYLE, Brigham Young University, TAYLOR NADAULD, Brigham Young University, and CHRISTOPHER PALMER, University of California-Berkeley—Monthly Payment Targeting and the Demand for Maturity
Friday • January 5
Discussants: ADRIANO RAMPINI, Duke University JOHANNES STROEBEL, New York University SAMUEL HANSON, Harvard Business School EFRAIM BENMELECH, Northwestern University
10:15 am Loews Philadelphia—Regency Ballroom C1 AFA
Informed Trading (G1)
Presiding: VINCENT GLODE, University of Pennsylvania
Presiding: VINCENT GLODE, University of Pennsylvania